Five-Unit Strip
For Sale
$1,200,000
119 S INDIANA Avenue, Englewood, FL 34223
Commercial Sale, ENGLEWOOD, FL
Property Size5,640 SF
Lot Size0.80 Acres
Price / SF$212.77
Days on Market134
Property Features for 119 S INDIANA Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
CG
Subdivision
PROSPECT PARK
Directions
From the intersection of SR776 (Indiana Ave) and Dearborn Street, head south on SR776 one block to property on left.
Standard status
Active
APN
0853050001
Size
5,640 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COM NW COR SEC 31 TH S-0-42-11-W 938 FT TH S-89-11-49-E 50 FT FOR POB TH S-89-11-49-E 290 FT TH N 121.4 FT M/L TH W 290 FT M/L TH S 120.1 FT M/L TO POB BEING PART OF BLK 6 PROSPECT PARK
Tax Annual Amount
12340
Legal Description
COM NW COR SEC 31 TH S-0-42-11-W 938 FT TH S-89-11-49-E 50 FT FOR POB TH S-89-11-49-E 290 FT TH N 121.4 FT M/L TH W 290 FT M/L TH S 120.1 FT M/L TO POB BEING PART OF BLK 6 PROSPECT PARK
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
1
Number of units
5
Building materials
Block
Roof type
Membrane
Listing Agency:
LASBURY-TRACY REALTY INC.
(941) 474-5585
Listed By:
Bart Tracy II · License #3067180
(941) 416-4114
Added: Apr 30
Changed: Aug 21
Last Checked: Sep 10 at 12:06PM
MLS# D6147296
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit retail property is fully leased and sits on 0.8 acres in Englewood. The building was constructed in 1958 with block construction, a membrane roof, central heating, and central air conditioning. The site also includes a parking lot and property signage. Two units are leased to one tenant under a five-year term, while the remaining three suites are occupied under individual month-to-month leases.
The property fronts S Indiana Avenue near SR776 and is located within the Englewood, Florida commercial area. It carries CG zoning and benefits from public water, public sewer, and available electricity. Its tenant configuration provides a mix of longer-term and flexible occupancy arrangements for continued retail use.
The property fronts S Indiana Avenue near SR776 and is located within the Englewood, Florida commercial area. It carries CG zoning and benefits from public water, public sewer, and available electricity. Its tenant configuration provides a mix of longer-term and flexible occupancy arrangements for continued retail use.
Key Highlights
- Five‑unit retail property with full occupancy
- 0.8‑acre site with parking lot and property signage
- Two units leased to one tenant under a five‑year lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$100,330
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,006,600
$2.0M
Cap Rate 7%
$1,433,286
$1.4M
Cap Rate 9%
$1,114,778
$1.1M
Market Conditions
NOI Build-Up for 5,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$148.2K $26.28/SF
− Vacancy
−$4.9K −$0.87/SF
EGI
$143.3K $25.41/SF
− OpEx
−$43.0K −$7.62/SF
NOI
$100.3K $17.79/SF
Area
Charlotte County, FL
Vacancy
3.30%
Lease Rate
$26.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,006,600
Cap Rate 7%
$1,433,286
Cap Rate 9%
$1,114,778
Alternative Uses
Best Use
Retail
$1.43M
$1.25M – $1.67M
NOI $100,330 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,269 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
699
Businesses Nearby
Explore this area
Business Placement
Demographics for 34223, FL
19,118
Population
14,484
Households
1.3
Avg Household Size
66
Median Age
39%
College-Educated
96%
High-School Grad
41.9 sq mi
ZIP Area
456
Density / Sq Mi
$70,155
Median Household Income
$39,486
Median Earnings
$1,288
Median Rent
$358,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Fully leased retail property with public utilities, central systems, and on-site parking.
Where is this strip mall located?
The property is located at 119 S INDIANA Avenue Englewood, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Five‑unit retail property with full occupancy; 0.8‑acre site with parking lot and property signage; Two units leased to one tenant under a five‑year lease
